Current inventory levels and decreasing consumption as the world slides into a recession. Maybe you would be more successful if you stopped fooling around laughing and became more aware of the world around you? You were very likely screaming buy oil when it was over 150. Read my entire post. I suggested PBR was a great buy at the right price and right time, but the time now is to be short over 7 as I suggested. I managed to short a couple of shares today and plan to short more when the opportunity arises then at the time I judge best, I will roll over to the long side, with hopefully a few extra dollars.
Tbass, almost every stock and especially oils are rising today on heavy volume. It is my opinion that once the no exit vote on Brexit takes place, the markets move on and pick up with the realization that the global economy is slowing and picking up the pace of that slowing. Oil is over priced and even if it reaches a balance between production and consumption, we still have a lot of inventory to work off. I am shorting a few shares of PBR over 7. I can see a return to 5 area near term, but longer term, PBR is a BUY and at lower prices than we have today!